Utah Statutes
§ 59-7-112 — Installment sales.
Utah·Title 59 Revenue and Taxation·Ch. 59-7 Corporate Franchise and Income Taxes·Part 59-7-1 Corporate Tax Generally
(1)Except as provided in Subsections (2) and (3), installment sales shall be governed by Sections 453, 453A, and 453B, Internal Revenue Code.
(2)Installment sales entered into prior to January 1, 1994, shall be recognized as originally reported.
(3)If a corporation is no longer required to file a Utah corporate return, any taxes owed by that corporation on installment sales entered into by that corporation shall accelerate and be due on the corporation's last return filed in Utah.
Free access — add to your briefcase to read the full text and ask questions with AI
Utah § 59-7-112 (Installment sales.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Repealed and Re-enacted by Chapter 169, 1993 General Session
Nearby Sections
15
§ 59-1-1001
Statement of taxpayer rights.§ 59-1-1002
Audit interviews.§ 59-1-1003
Penalty waiver.§ 59-1-1004
Installment payments.§ 59-1-1005
Suits against commission and its employees.§ 59-1-101
Definitions.§ 59-1-103
Income Tax Surplus Restricted Account.§ 59-1-1101
Private collection of tax -- Fee.§ 59-1-1302
Definitions.